Goodbye Saturn-Penske Will not Acquire

Article BodyIn late breaking news from Wednesday afternoon, The Penske Group (PAG) has halted their decision to take over the Saturn brand from GM. Penske stated that their decision was made as a result of being able to find companies to create product, outside of the contracted vehicles that GM had agreed to make. Penske had negotiated a contract with another, undisclosed, manufacturer to independent supply vehicles and parts. The Board of Directors of that other group voted against the agreement. Without an agreement, Penske did not feel it made sense to move on, there was too much risk of no product.

Therefore, GM will be phasing out the Saturn brand and closing all the dealerships.

The timing will be determined over the next few weeks, and all dealers will begin to received notices. Consumers can continue to buy Saturns, and have them serviced during the wind down. GM states that after the dealers are closed, they will be able to have them serviced at other GM facilities. As I remember though, Saturns were interesting vehicles to work on and in my Chevy shop, technicians didn’t want anything to do with them. I think it is very likely that once the announcement hits the streets today, it will be very difficult to get a Saturn repaired.

Regardless of when the Saturn stores actually close, the brand officially died yesterday afternoon.

Penske Halts Talks to Acquire Saturn - AutoRemarketing.com